Thursday, October 17, 2013

Peter Schiff Gold Prices - LongTerm Forecast for Gold - Peter Schiff Gold

Peter Schiff Discusses Gold Prices and why he believes that gold was always considered as solid and save instrument. Many Countries currency was based on Gold reserves. People

loved to make investment in Gold. But now this Gold is in crisis. These Gold crisis are linked with economic,

financial, debt and currency crisis. Anyhow, too much dependence on one instrument always brings down fall. This

Goldman Sachs predicts an average gold price of $1,413 for the year 2013. This doesn't necessarily mean that gold will get back to this level (from the current gold price of $1,329 as of July 26, 2013), because the first half of the year, during which gold was for the better part trading above $1,500, is already included in the average.

Goldman expects the U.S. recovery to pick up and gold to plunge the next year, predicting gold to average only $1,165 in 2014.

Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.

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